Question: a. Please fully describe the benchmarking process (advantages and disadvantages). b. Explain in detail when and why a firm should employ this process. Benchmarking is the process of identifying "best practice" in relation to both products (including) and the processes by which those products are created and delivered. The search for "best practice" can take place both inside a particular industry, and also in other industries. The objective of benchmarking is to understand and evaluate the current position of a business or organization in relation to "best practice" and to identify areas and means of performance improvement. Benchmarking involves looking outward to examine how others achieve their performance levels and to understand the processes they use. Therefore reflects those actions either fore or against particular organizations goals. In this way benchmarking helps explain the processes behind excellent performance. When the lessons learnt from a benchmarking exercise are applied appropriately, they facilitate improved performance in critical functions within an organization or in key areas of the business environment. The process goes beyond comparisons with competitors to understand the practices that lie behind or ahead in performance gaps. Advantages for an organization that is willing to utilize this process is to identify a method for mimicking the practices of competitors. This is done so in a way of seeking superior process performance by looking outside the industry. Their practices are used as a reference point to measure performance against. It indicates the possibilities for an organization to achieve. Disadvantages include the difficulties that will be encountered when benchmarking. Due to the fact that benchmarking is a continuous process, time and dedication must be given to this in order to improve a particular process. Misunderstanding the mission and vision are also disadvantages along with not relating...

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ManagementPractice: Critical Analysis and Review
MGMT.8001
SUBMITTED BY
NILAM SANGROULA (NIEL)
SUBMITTED TO
Andriy Kovalenko
Date of Submission: 13 April 2011
1. Introduction
The article “Are vulnerable workers really protected in New Zealand?” is written by two authors namely, Danae Anderson, researcher at Work research Institute, Auckland University of Technology, NZ and Rupert Tipples, Associate Professor of Employment Relations in Faculty...

...INTRODUCTION
“Benchmarking is a way to go backstage and watch another company’s performance
From the wings, where all the stage tricks and hurried realignments are visible”
Method of improving business performance by learning from others.
2
BENCHMARKING: WHAT IS IT?
Main emphasis is not on “best performance” but on improving a given business operation or a
process by exploiting “bestpractices”...

...Assignment – Benchmarking
Name: Shang, ZhenXiang Student ID: 158574
This essay will discuss the topic of benchmarking. Firstly, it will introduce the concept of benchmarking and describe the contemporary apply in organization running. Then, this essay will explain how benchmarking helps managers to improve organizational planning and performance. It will use the example of the benchmarking club for food and drinks...

...BENCHMARKINGBenchmarking is the process of comparing the cost, cycle time, productivity, or quality of a
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...Benchmarking What is it?
"... benchmarking ...[is] ...'the process of identifying, understanding, and adapting
outstanding practices and processes from organizations anywhere in the world to
help your organization improve its performance.'"
—American Productivity & Quality Center
"... benchmarking ...[is]... an on-going outreach activity; the goal of the outreach is
identification of best operating...

...crucial to have a clear understanding of problems and, based on needs, to prioritise them, so that a realistic benchmarking exercise with adequate resources can be launched.
http://www.education-benchmarking.org/old/iframed/page/get/?id=17
Step 1: Identify Opportunities and Prioritize (What to Benchmark) – The involvement of top management in this particular step is crucial. Top management must decide which processes are critical to the success...